BP: Beyond payment?

BP: Beyond payment? Bets that BP will default on its bonds hit an all-time high Tuesday, as investors fled the scene of the Gulf of Mexico oil spill. The cost of insuring against a default on BP (BP) debt soared 79%, according to CMA. The spike came as the London-based company admitted the failure of its latest effort to contain the biggest-ever U.S. oil spill and the government said it would stop holding joint press conferences with the company. Attorney General Er … Read More

via Street Sweep: Fortune’s Wall Street Blog

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